2024

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">D.R. Horton, Inc. (NYSE: DHI), has demonstrated its industry leadership with a robust performance in the <a aria-label="fiscal 2024 second quarter (opens in a new tab)" href="https://investor.drhorton.com/news-and-events/press-releases/2024/04-18-2024-113040879" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">fiscal 2024 second quarter</a>. The company reported a significant 24% increase in net income, reaching $1.2 billion, or $3.52 per diluted share. <br><br>This performance marks a notable rise from the $942.2 million, or $2.73 per diluted share, recorded in the same quarter of the previous fiscal year.</p> 
<p>Consolidated revenues increased by a healthy 14% to $9.1 billion compared to $8.0 billion in the fiscal 2023 second quarter. This growth is attributed to a 15% increase in homes closed, totaling 22,548 homes, and a 14% increase in value to $8.5 billion. The company’s strategic operations and market positioning have yielded a commendable pre-tax profit margin of 16.8%, showcasing its operational efficiency and market strength.</p> 
<h3 id="d-r-horton-beats-expectations-in-q2-reports-3-52-eps-and-9-1-b-in-revenue">D.R. Horton Beats Expectations in Q2, Reports $3.52 EPS and $9.1 B in Revenue</h3> 
<p>Against expectations, D.R. Horton’s fiscal 2024 second-quarter performance has outpaced projections. Analysts had anticipated earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) of $3.07 and revenue of $8.15 billion for the quarter.</p> 
<p>The actual EPS of $3.52 and revenue of $9.1 billion surpassed these expectations and highlighted the company’s ability to exceed in a challenging market environment. This outperformance is a testament to D.R. Horton’s robust business model, effective cost management strategies, and the continued demand for affordable housing.</p> 
<p>The company’s successful execution of its business strategy is evident in its increased net sales orders, which rose 14% to 26,456 homes and 17% in value to $10.1 billion, further solidifying its market leadership position.</p> 
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<h3 id="d-r-horton-expects-consolidated-revenues-to-be-approximately-36-7-b-to-37-7-b">D.R. Horton Expects Consolidated Revenues to be Approximately $36.7 B to $37.7 B</h3> 
<p>D.R. Horton has provided optimistic guidance for fiscal 2024, reflecting confidence in its business strategy and market opportunities. The company expects consolidated revenues to be approximately $36.7 billion to $37.7 billion, with homebuilding operations projected to close between 89,000 to 91,000 homes. Additionally, D.R. Horton anticipates share repurchases of approximately $1.6 billion and an income tax rate of around 23.5% to 24.0%.</p> 
<p>This guidance underscores the company’s positive outlook and ability to navigate the complexities of the housing market effectively. With a strong liquidity position and a disciplined approach to capital investment, D.R. Horton is well-positioned to continue delivering value to its shareholders and capitalizing on the favorable demographics supporting housing demand.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/d-r-horton-inc-shines-bright-24-surge-in-net-income/">D.R. Horton, Inc. Shines Bright: 24% Surge in Net Income</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

D.R. Horton, Inc. Shines Bright: 24% Surge in Net Income

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